On stovetop: Stir chocolate chips and 1/4 cup of the heavy cream in a small saucepan over low heat until chips melt and mixture is smooth. Scrape into a medium-size bowl. Wash saucepan. Repeat with vanilla chips and another 1/4 cup cream. Scrape into another medium-size bowl.

Beat remaining 1 1/2 cups heavy cream in a large bowl with electric mixer until soft peaks form when beaters are lifted.

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